PRES. TINUBU APPROVES RENEWED HOPE INFRASTRUCTURE FUND
In order to close Nigeria’s $25 billion annual infrastructure funding gap, President Bola Tinubu approved the Renewed Hope Infrastructure Fund on Monday.
Following the Federal Executive Council meeting on Monday at the Presidential Villa in Abuja, Mohammed Idris, the Minister of Information and National Orientation, informed the media that the new initiative will be based in the Presidency.
“Mr President, in his wisdom and with the approval of the Federal Executive Council, approved the setting up of the Renewed Hope Infrastructure Fund to be domiciled in the Presidency,” he said.
The Federal Inland Revenue Service Chairman, Zach Adedeji, provided more information about the development, stating that the fund would prioritize road, rail, agricultural, ports, and aviation.
He clarified that the fund will be activated in a few months following the preparation of a supplemental budget by Abubakar Bagudu, the Minister of Budget and Economic Planning, to account for the additional spending.
More details shortly…..
More Stories
(PHOTOS) UPDATED: FIVE CONFIRMED DEAD, 70 CARS BURNT IN RIVERS TANKER EXPLOSION
Five people have been confirmed dead and over 70 cars burnt in the tanker explosion at the Eleme section of...
TINUBU APPOINTS RENOWED BANKER, JIM OVIA AS CHAIRMAN OF NIGERIAN EDUCATION LOAN FUND
President Bola Tinubu has approved the appointment of Mr. Jim Ovia, CFR, renowned banker and businessman, as the Chairman of...
ROAD ACCIDENT CLAIMS THREE LIVES IN ONDO
At least three persons died in a road accident that occurred along the Akungba-Ikare Road in Akoko South-West Local Government...
GOV MBAH MOURNS AYOGU EZE, SAYS IT’S MONUMENTAL LOSS
Governor of Enugu State, Dr. Peter Mbah, has expressed deep grief over the death of member representing Enugu State on...
BULLY: STUDENT VOWS TO SUE ABUJA SCHOOL IF ABUSERS ARE NOT SANCTIONED
Namtira Bwala, a victim of bullying at Lead British International School in Abuja, has threatened to sue the institution if...
INJURIES PREVENTED NDAH’S TRANSFER FROM ORLANDO PIRATES – AGENT
Olisa Ndah’s agent, Mike Makab has revealed that persistent injuries scuttled his client’s ambition of playing abroad. Ndah was linked...